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CFOZone Experts
Opinions and views from expert CFOZone members.
Tag >> PwC
Now this is what you can call inflation. US employers are likely to shell out 8.5 percent more on healthcare costs in 2012 on top of an increase of 8 percent this year, according to an annual report on medical cost trends published by PwC's Health Research Institute.
Chief execs are as upbeat as the global stock markets. A new PricewaterhouseCoopers survey of 1,201 chief executives in 69 countries found they are nearly as confident in their outlook for revenue growth over the next 12 months as they were during the recent global boom before the financial crisis.
The Financial reporting Council of the UK has released the annual results of its inspection of the big four accounting firms. Its verdict? Could do better. Each of the big four - KPMG, PwC, Deloitte and Ernst & Young - were found to have been less than perfect. Each was found guilty of specific misdemeanors, but the common thread running through the report was that auditors faced too much internal pressure to do non-audit work, so that the quality and independence of the audits were in danger of slipping.
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Posted by Going Concern in PwC, PricewaterhouseCoopers, JPMorgan Chase, JP Morgan Chase, CPAs, compliance, banking industry, auditors, auditing, audit, Accounting
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Submitted by Adrienne Gonzalez, republished from Going Concern, Accounting News for Accountants and CFOs. Now £15.7 billion may not seem like much to you if you are, say, Bill Gates or Ben Bernanke but for PricewaterhouseCoopers UK, it may be the magic number that gets the firm into a whole steaming pile of trouble.
Submitted by Caleb Newquist, republished from Going Concern, Accounting News for Accountants and CFOs. Last week, the SEC continued its "Bustin' Up Fraud" tour by charging Memphis-based Morgan Keegan & Company, Morgan Asset Management, and two employees, James C. Kelsoe, Jr. and Joseph Thompson Weller with "fraudulently overstating the value of securities backed by subprime mortgages."
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Posted by Ron F in PwC, KPMG, Goldman Sachs, General Electric, Ernst & Young, Deloitte, cost cutting, Cash, Big Four, Big 4, auditors, auditing, Accounting
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Hey, I got hold of some interesting data from Audit Analytics on the length of time that some US companies have had the same auditors. The issue arises in connection with a CFO cover story on audit fees that I wrote about yesterday.
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Posted by Going Concern in PwC, KPMG, IFRS, Ernst & Young, Deloitte, Davos, compliance, CEOs, Careers/Management, Big 4, Accounting
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Submitted by Francine McKenna, republished from Going Concern, Accounting News for Accountants and CFOs. It's sort of sweet to see the CEOs of the Big 4 audit firms being treated like big deals at Davos. In the U.S., the media typically pays no attention to these guys unless there's either a catastrophic accounting related failure - and the recent crisis is not being viewed as such by the media - or some icky accounting issue like mark-to-market or IFRS that necessitates an interview with some accountant. Any accountant.
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